Cairo – Mubasher: The International Monetary Fund (IMF) has cut its expectations for Egypt’s real GDP growth for 2024 and 2025 by 0.3% for each year.

The IMF reduced its expectations for the country’s growth in 2024 and 2025 to 2.70% and 4.10%, respectively, according to the IMF’s World Economic Outlook Update.

Egypt seeks to achieve a 4.20% growth rate in the fiscal year (FY) 2024/2025.

Furthermore, the IMF cut its forecasts for the MENA’s growth by 0.50% to 2.20% in 2024 and by 0.20% to 4%, respectively.

The fund set its growth projections for the global economy to 3.20% in 2024 and 3.30% in 2025.